Short of ideas for Christmas presents or searching for a good Christmas read yourself? Well here at Marxist TEFL, we strongly recommend, John Perkins’ 2006 whistleblower, Confessions of an Economic Hit Man. It’s hardly a new book but his story seems even more profound following the financial crash of 2008. Basically, corporations are keeping people in poor countries around the world enslaved in debt and insecurity. This is not an error in financial calculations, a minor wrinkle in the market to be ironed out at some later date, but a deliberate policy to ensure a huge transfer of the world’s resources into the hands of the few. The debts can always be rescheduled provided the country surrenders more of its resources and autonomy to the big corporations
This is the same system that, in the UK, through PFI (Private Finance Initiative) has ensured people pay 400% more than the actual equity value of the new hospitals and schools that have or are being built. The GMB (General, Municipal, Boilermakers and Allied Trade Union) estimate that taxpayers are paying 8,400 pounds each as a present to the finance companies responsible for engineering this disparity. Debt is just one more means of squeezing profits out of the worlds population.
For those wanting a preview of John Perkin’s book, they can watch an interview with him here: